My guest on the show today is Bruce Young, the CEO or Concrete Pumping. The company has a 485 million dollar market cap and is the largest domestic player in a niche of construction-related services that is called concrete pumping. Bruce became CEO of the company back in 2008 but started his career in this industry way back in the 1980s. Concrete Pumping provides a high margin, mission critical service to its construction partners and has the ability to deploy capital at attractive multiples as it helps the industry consolidate further. Given that Concrete Pumping is rather new to public markets, I was very curious to hear from Bruce about:
- How the company generates such high margins and recognizes very high returns on incremental investments;
- The ongoing roll-up opportunity the company has—as well as avenues for organic growth;
- The capital allocation process the company employs when deciding between M&A and adding new equipment
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